SB1268 amends Illinois pension laws to increase death benefits for retirees and their survivors.
SB1268 amends the Illinois Municipal Retirement Fund (IMRF) provisions to increase the death benefit for retirees and their survivors. Effective January 1, 2026, the death benefit for retirees who have at least one year of service will increase from $3,000 to $8,000. For retirees who first retired prior to the effective date of this amendatory Act, the death benefit will remain at $3,000.
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- Impact
- Legal Framework
- Critical Issues
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